Sony shares rose nearly 6% on Monday, trading at $21.33. Reports indicate that on May 11, Sony Music Publishing has reached an agreement to formally acquire the entire music catalog of the Recognition Music Group from Blackstone Group LP. According to earlier sources, Sony is expected to form a joint venture with Singapore's sovereign wealth fund GIC to complete the acquisition, with the transaction value estimated to be between $3.5 billion and $4 billion.
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